Tuesday, January 31st, 2023
Pre-market futures have fought back from triple-digit deficits on some better-than-expected earnings results ahead of the bell and another inflation metric ticking down favorably. At this hour, the Dow is +35 points, the S&P 500 is +7 and the Nasdaq +10 points. The reversal to positive territory began directly following the inflation number.
That number in question came from the Q4 Employment Cost Index: +1.0% on headline, dow 10 bps from the +1.1% expected and the +1.2% we saw the previous quarter. This is notably down from the +1.4% we saw for Q1 and the lowest we’d seen since Q4 of 2021. It’s not a drastic move, but notable in that we’re now back down beneath the 2022 inflation “bubble.”
ExxonMobil (XOM - Free Report) beat Q4 estimates this morning on record-high net gains of $56 billion in the quarter. Earnings of $3.40 per share outperformed the Zacks consensus by 8 cents. Revenues came in a tad light, however, at $95.43 billion — a miss of -5.57%. Profit margins have reached +14% in the quarter. It’s the company’s third-straight earnings beat. For more on XOM’s earnings, click here.
Caterpillar (CAT - Free Report) posted its first earnings miss since Q1 2020, with $3.86 per share missing the Zacks consensus $3.95, reportedly on foreign exchange headwinds. Revenues of $16.6 billion topped the $12.89 billion expected — far outdoing the $13.8 billion reported in the year-ago quarter.Shares are flat on the news; shares are up +9% year to date. For more on CAT’s earnings, click here.
General Motors (GM - Free Report) improved on expectations for both earnings and sales in its Q4 this morning, with earnings of $2.12 per share zooming past the $1.68 expected (and $1.35 per share in the year-ago quarter), on $43.11 billion in revenues, outpacing the $41.31 billion analysts were projecting. The company brought a Zacks Rank #5 (Strong Sell) into the earnings report; with net income guidance higher for 2023, we expect this to improve.
McDonald’s (MCD - Free Report) was able to raise its prices in the quarter, leading to a +5.28% positive earnings surprise to $2.59 per share, on a +3.9% surprise on the top line to $5.93 billion. The Zacks Rank #2 (Buy) stock is selling off a bit in today’s pre-market, however; shares are flat year-to-date so far. For more on MCD’s earnings, click here.
Pfizer (PFE - Free Report) also beat estimates on both top and bottom lines for its Q4 report this morning, with earnings $1.14 per share beating consensus by +10.68%, and sales of $24.29 billion in the quarter eking out a top-line beat of +0.36%. The stock, however, continues to head south in today’s pre-market, even as shares are -15% year to date. For more on PFE’s earnings, click here.
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Tuesday, January 31st, 2023
Pre-market futures have fought back from triple-digit deficits on some better-than-expected earnings results ahead of the bell and another inflation metric ticking down favorably. At this hour, the Dow is +35 points, the S&P 500 is +7 and the Nasdaq +10 points. The reversal to positive territory began directly following the inflation number.
That number in question came from the Q4 Employment Cost Index: +1.0% on headline, dow 10 bps from the +1.1% expected and the +1.2% we saw the previous quarter. This is notably down from the +1.4% we saw for Q1 and the lowest we’d seen since Q4 of 2021. It’s not a drastic move, but notable in that we’re now back down beneath the 2022 inflation “bubble.”
ExxonMobil (XOM - Free Report) beat Q4 estimates this morning on record-high net gains of $56 billion in the quarter. Earnings of $3.40 per share outperformed the Zacks consensus by 8 cents. Revenues came in a tad light, however, at $95.43 billion — a miss of -5.57%. Profit margins have reached +14% in the quarter. It’s the company’s third-straight earnings beat. For more on XOM’s earnings, click here.
Caterpillar (CAT - Free Report) posted its first earnings miss since Q1 2020, with $3.86 per share missing the Zacks consensus $3.95, reportedly on foreign exchange headwinds. Revenues of $16.6 billion topped the $12.89 billion expected — far outdoing the $13.8 billion reported in the year-ago quarter.Shares are flat on the news; shares are up +9% year to date. For more on CAT’s earnings, click here.
General Motors (GM - Free Report) improved on expectations for both earnings and sales in its Q4 this morning, with earnings of $2.12 per share zooming past the $1.68 expected (and $1.35 per share in the year-ago quarter), on $43.11 billion in revenues, outpacing the $41.31 billion analysts were projecting. The company brought a Zacks Rank #5 (Strong Sell) into the earnings report; with net income guidance higher for 2023, we expect this to improve.
McDonald’s (MCD - Free Report) was able to raise its prices in the quarter, leading to a +5.28% positive earnings surprise to $2.59 per share, on a +3.9% surprise on the top line to $5.93 billion. The Zacks Rank #2 (Buy) stock is selling off a bit in today’s pre-market, however; shares are flat year-to-date so far. For more on MCD’s earnings, click here.
Pfizer (PFE - Free Report) also beat estimates on both top and bottom lines for its Q4 report this morning, with earnings $1.14 per share beating consensus by +10.68%, and sales of $24.29 billion in the quarter eking out a top-line beat of +0.36%. The stock, however, continues to head south in today’s pre-market, even as shares are -15% year to date. For more on PFE’s earnings, click here.
Questions or comments about this article and/or its author? Click here>>
Free Report Reveals How You Could Profit from the Growing Electric Vehicle Industry
Globally, electric car sales continue their remarkable growth even after breaking records in 2021. High gas prices have fueled his demand, but so has evolving EV comfort, features and technology. So, the fervor for EVs will be around long after gas prices normalize. Not only are manufacturers seeing record-high profits, but producers of EV-related technology are raking in the dough as well. Do you know how to cash in? If not, we have the perfect report for you – and it’s FREE! Today, don't miss your chance to download Zacks' top 5 stocks for the electric vehicle revolution at no cost and with no obligation.
>>Send me my free report on the top 5 EV stocks<<
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